First Scottish coin beats estimate by 140% at auction

An 875 year old Scottish coin, the first ever issued, saw strong results on June 28

The first Scottish coin ever issued provided the main draw at a two day sale of Ancient and British Coins on June 27-28.

First Scottish Coin King David I PennyThe coin's importace was acknowledged by the impressive sale price

A remarkable find, the coin was discovered in Yorkshire, UK and stands as one of just 10 extant examples. Thepenny was created over 875 years agounder the reign ofDavid I, after he conquered Carlisle in England and took over the town's mint. Following the death of Henry I of England in 1135, David Ihad established complete control of Cumbria, making Carlisle his newbase. He continued to strike Henry's silver pennies at the mint there, but instead of printing the king's design, he had each example struck with his own name and insignia, thereby creating the first ever Scottish coins. It is thought that the example at auction was likely lost by a soldier just three years later at the Battle of the Standard in north Yorkshire, where David Iwaseventually defeated by the English army. After a battle of their own, thenew ownersecured thewell-worn piecefor 8,400, 140% above its high estimate of 3,500. "The buyer has acquired a very special piece of Scottish history and I am delighted that its significance has been acknowledged in this way, by achieving a well-deserved price," commented the auction house's coin specialist, William Mackay. Paul Fraser Collectibleshasits own Carlisle-minted coin on offer, which originates from the besieged city during the English civil war. See more of our brilliant collection here.

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